The EIB renews its support for Orange with €500m for the deployment of 5G and 4G networks in France
Mar 2, 2023
Orange signed on 14 of February 2023 a €500m loan with the European Investment Bank (EIB) to partly finance the Group’s deployment of its 5G mobile network in France and strengthening of its 4G mobile network capacity in rural areas in France. The drawdown of the loan took place on the 1st March.
This loan supports Orange in its strategy of responsible innovation and enhanced connectivity throughout France. The complementarity of the Orange 4G and 5G mobile networks offers the best experience quality to its retail and corporate clients in all territories.
This financing is globally aligned with the roadmap of Orange's new strategic plan "Lead the future", which aims among other objectives to capitalise on the Group's infrastructures in order to consolidate Orange's leading position in terms of quality of services and networks.
"We are delighted with our long-term partnership with the European Investment Bank. Thanks to this new loan, the EIB supports Orange in the deployment of its innovation strategy around 5G and its digital inclusion objectives", said Ramon Fernandez, Deputy CEO Finance, Performance and Development of Orange. “This financing will enable Orange to strengthen its leadership in the mobile network in France, whether in terms of network coverage, indoor network quality, voice quality and experience for all of its 5G and 4G customers”.
“The financing of network infrastructure that is essential for improving connectivity in the European Union is one of the Public Bank of Europe's investment priorities. This is why I welcome this new loan to Orange to continue the deployment of its mobile networks", added EIB Vice-President Ambroise Fayolle. "To succeed, the digital transition requires that the whole of France be able to benefit from very good quality Internet access, including in the least densely populated rural areas, so as to enhance their attractiveness and make life easier for those who live there."
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